Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $22.24 million dual directional trigger PLUS linked to S&P 500
New York, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $22.24 million of 0% dual directional trigger PLUS due Sept. 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return subject to a maximum return of par plus 32.5%. Investors will receive a 1% gain for each 1% loss if the index declines but finishes above the 80% principal barrier and they will lose 1% for every 1% decline if the index ends below its principal barrier.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley will act as distributor.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Dual directional trigger PLUS
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Underlying index: | S&P 500 index
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Amount: | $22,239,000
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Maturity: | Sept. 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return subject to a maximum return of par plus 32.5%; 1% gain for each 1% loss if index declines but ends above principal barrier; full exposure to loss if index ends below principal barrier
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Initial level: | 4,404.33
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Principal barrier: | 3,523.464, 80% of initial level
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Upside leverage: | 200%
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Cap: | 32.5%
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agent: | J.P. Morgan Securities LLC
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Distributor: | Morgan Stanley
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Fees: | 3% including a structuring fee of 0.5%
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Cusip: | 48133YQJ6
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